HomeMy WebLinkAboutAgenda_GEDCO_04.16.2018Notice of Meeting for the
Georgetown Economic Dev elopment Corporation
of the City of Georgetown
April 16, 2018 at 4:00 PM
at the City Council Chambers, located at 101 E. 7th Street, Georgetown, TX 78626
The City o f G eo rgeto wn is committed to comp lianc e with the Americans with Dis abilities Ac t (ADA). If yo u
req uire as s is tanc e in participating at a p ublic meeting d ue to a disability, as d efined und er the ADA, reas onab le
as s is tance, ad ap tatio ns , or acc o mmo d ations will b e provid ed up o n req uest. P leas e c o ntact the City Sec retary's
Office, at leas t three (3) days prior to the sc hed uled meeting d ate, at (512) 930-3652 o r City Hall at 113 Eas t 8th
Street fo r add itional info rmation; TTY us ers ro ute through Relay Texas at 711.
Regular Session
(This Regular S es s io n may, at any time, b e rec es s ed to convene an Exec utive S es s io n fo r any p urpose
authorized b y the Op en Meetings Act, Texas Go vernment Co d e 551.)
A Co nsideration and approval of the minutes fo r Georgetown Ec o nomic Develo p ment Co rp o ration for the
Meeting held Mo nday, Marc h 19, 2018--S teve Bohnenkamp, Secretary
B Co nsideration of the Marc h 2018 financ ial rep o rts . Leigh Wallac e, Financ e Manager, GEDCO, Financ e
Directo r, COG
C Dis cus s ion and pos s ible actio n regarding the Staff Rep o rt —David Morgan, C ity Manager
-P erformance Agreement Report
-Activity Report
-Other Staff Items
D Actio n o ut o f Exec utive Session.
Executiv e Session
In compliance with the Op en Meetings Act, C hapter 551, Go vernment Code, Vernon's Texas Codes,
Annotated, the items lis ted below will be d is c us s ed in closed s es s io n and are s ubjec t to actio n in the regular
s es s io n.
E Sec. 551.071: CONSULTATION WITH ATTORNEY
Co nsultation with attorney regarding legal is s ues related to agenda items and other matters in whic h (1)
when the go vernmental body seeks the advic e o f its attorney ab o ut: (A) p ending o r c o ntemp lated
litigatio n; o r (B) a s ettlement o ffer; o r (2) o n a matter in which the d uty of the attorney to the go vernmental
body under the Texas Dis ciplinary Rules o f P ro fes s io nal Cond uc t o f the S tate Bar o f Texas clearly
c o nflic ts with this chap ter - Charlie McNabb, C ity Attorney
F Section 551.072. DELIBERATIONREGARDING REAL PROPERTY
Dis cus s ion and pos s ible actio n to d elib erate the p urc hase,exc hange, leas e or value of real property for
purp o s es authorized b y the Development C o rp o ration Ac t which disc us s io n in o p en s es s io n would have a
detrimental effect on negotiations with third pers ons .
G Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Delib eratio n regarding commerc ial or financ ial info rmation that the corp o ration has rec eived fro m a
Page 1 of 37
bus iness pros pec t that the Georgetown Ec ono mic Develo p ment Co rp oratio n s eeks to have loc ate, stay, or
exp and in or near the territory of the City o f Georgetown and with whic h the C o rp o ration is cond uc ting
ec o nomic d evelopment nego tiatio ns; and/o r deliberatio n regarding the o ffer of a financ ial or o ther
incentive to a bus iness p ro s p ect that the C o rp o ration seeks to have lo cate, s tay, o r exp and in o r near the
territory o f the City o f Georgetown.
- Projec t Badge
- Projec t Deliver
CERTIFICATE OF POSTING
I, Shelley No wling, C ity S ecretary fo r the C ity of Geo rgeto wn, Texas , d o hereby c ertify that this Notice of
Meeting was p o s ted at City Hall, 113 E. 8th Street, a p lace read ily acc es s ible to the general p ublic at all times ,
on the ______ d ay o f __________________, 2018, at __________, and remained so p o s ted fo r at leas t 72
c o ntinuo us ho urs p receding the sc heduled time o f s aid meeting.
____________________________________
S helley No wling, City Sec retary
Page 2 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
April 16, 2018
SUBJECT:
Cons id eration and ap p ro val o f the minutes for Geo rgeto wn Econo mic Development Corporatio n fo r the
Meeting held Mond ay, March 19, 2018--Steve Bo hnenkamp , Sec retary
ITEM SUMMARY:
ATTACHMENTS:
Draft Minutes
FINANCIAL IMPACT:
None
SUBMITTED BY:
Steve Bo hnenkamp, C o rp o rate Sec retary
ATTACHMENTS:
Description Type
minutes Cover Memo
Page 3 of 37
GEDCO Minutes
February 19, 2018
Page 1 of 2
Minutes of the Meeting of the
Georgetown Economic Development Corporation
City of Georgetown, Texas
March 19, 2018
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, March 19, 2018.
Members
Present:
Absent:
Steve Fought, Steve Bohnenkamp, Tom Menke, Kevin Kelly, Valerie Nicholson, Jeff Parker
Bill Mateja
Staff
Present:
David Morgan, City Manager/General Manager; Michaela Dollar, Director of Economic
Development; Leah Wallace, Finance Manager; Tina Dunbar, Marketing Coordinator; Laurie
Brewer, Assistant City Manager; Debbie Mitchell, Senior Accountant; Paul Diaz, Budget
Analyst; Wayne Reed, Assistant City Manager; Conchita Gusman, Program Manager; Elaine
Wilson, Controller
MINUTES
Call to Order at 4:00 pm
A Consideration and approval of the minutes for Georgetown Economic Development Corporation for
the Regular Meeting held Monday, February 19, 2017--Bill Mateja, Secretary
Motion by Fought, second by Parker to approve the January 29, 2018 minutes. (Approved 6-0)
B Consideration of the February 2018 financial reports. Leigh Wallace, Finance Manager, GEDCO, Finance
Director, COG
Wallace introduced Diaz and Wilson and explained the financial reports including the sales tax report.
She also presented results of the annual independent audit.
C Consideration and possible action to nominate and elect a President, Vice-President, and Secretary
consistent with Section 3.02 of the GEDCO Bylaws— David Morgan, General Manager
Following discussion and nominations:
Motion by Parker, second by Fought to elect Kevin Kelly as President. (Approved 6-0)
Motion by Kelly, second by Nicholson to elect Bill Mateja as Vice President. (Approved 6-0)
Motion by Parker, second by Kelly to elect Steve Bohnenkamp as Secretary. (Approved 6-0)
D Review and discussion regarding the Fourth Amended Bylaws for GEDCO approved by the City Council
on December 8, 2015 and the Articles of Amendment for GEDCO approved by the City Council on
December 8, 2015 related to Board Membership --David Morgan, General Manager
Morgan presented the bylaws and articles of amendment and provided detail on several sections.
Page 4 of 37
GEDCO Minutes
February 19, 2018
Page 2 of 2
E Review and possible action related to the Day and Time of the GEDCO Board Meetings--David Morgan,
General Manager
Motion by Nicholson, second by Bohnenkamp to keep current time and date for future meetings.
F Review and discussion regarding the City Council Attendance Policy for Board Members--David
Morgan, General Manager
Morgan provided a review of the attendance policy requirements.
G Discussion and possible action regarding the Staff Report —David Morgan, City Manager
- Performance Agreement Report
- Activity Report
- Other Staff Items
Dollar discussed the performance agreement report, activity report, and department strategic plan.
Following discussion Dollar and Morgan answered questions from the board.
H Action out of Executive Session.
No Executive Session
Adjourn at 4:46pm
______________________________ ___________________________________
Steve Bohnenkamp, Corporate Secretary Kevin Kelly, President
Page 5 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
April 16, 2018
SUBJECT:
Cons id eration o f the March 2018 financial reports . Leigh Wallace, Finance Manager, GEDCO, F inance
Direc tor, COG
ITEM SUMMARY:
See Attachments
FINANCIAL IMPACT:
None
SUBMITTED BY:
Leigh Wallace, Financ e Manager, GEDCO F inanc e Direc tor, COG
ATTACHMENTS:
Description Type
Financial Cover Memo
Page 6 of 37
GEDCO Board Meeting Date: April 16, 2018 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the March 31, 2018 financial report. Leigh Wallace, Finance Manager,
GEDCO, Finance Director, COG.
_________________________________________________________________
ITEM SUMMARY:
The corporate bylaws require the Finance Manager to present the monthly financial
reports to the Board. Included in these reports will be:
• Financial reports
• Sales Tax revenues
• Monthly expenditures
• Any other relevant financial information
Sales tax revenue is two months in arrears; therefore the revenues reflect only the amount
received, not actually earned, as of the report date. A report on payments made to
vendors in the month of March is also included.
ATTACHMENTS:
Monthly Financial Reports
Sales Tax History
Disbursement Report
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 7 of 37
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 5,902,863 5,902,863
OPERATING REVENUES -
Interest 25,400 8,224 40,777 40,777
Lease Revenue (Grape Creek)24,000 - 24,000 24,000
Miscellaneous Revenue 61,100 - 10,991 61,100
Sales Tax 1,643,750 115,182 535,021 1,643,750
OPERATING REVENUES Total 1,754,250 123,406 610,789 1,769,627
OPERATING EXPENDITURES -
Debt Service 116,613 - 43,784 116,613
Interest Expense 87,569 - - 87,569
Joint Services Allocation 221,328 18,444 110,664 221,328
Miscellaneous Expense 11,108 - 10,991 11,108
Principal Reduction 125,000 - - 125,000
Promotional & Marketing Program 81,000 - 66,961 81,000
Special Services 27,500 - 12,500 27,500
Supplies 300 - - 300
Travel & Training 1,500 - - 1,500
OPERATING EXPENDITURES Total 671,918 18,444 244,900 671,918
TOTAL NET OPERATIONS 1,082,332 104,962 365,889 1,097,709
NON-OPERATING EXPENDITURES -
Catalyst 36,000 2,833 33,006 36,000
DisperSol 60,000 40,000 40,000 40,000
Economic Development Projects -Undetermined 6,338,518 - - 6,338,518
Texas Life Sciences 139,740 - 139,740 139,740
NON-OPERATING EXPENDITURES Total 6,574,258 42,833 212,746 6,554,258
TOTAL NET NON-OPERATIONS (6,574,258) (42,833) (212,746) (6,554,258)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (5,491,926) 62,129 153,143 (5,456,549)
ENDING FUND BALANCE 410,938 446,315
RESERVES
Contingency 410,938 410,938
RESERVES Total 410,938 - - 410,938
AVAILABLE FUND BALANCE - 35,377.00
Georgetown Economic Development Corporation Fund
Year-End Projection to Approved: Mar FY2018
Page 8 of 37
As of March 31, 2018
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2013-14 2014-15 2015-16 2016-17 2017-18 To FY 17 To FY 17
October 91,863$ 98,094$ 106,050$ 114,748$ 124,478$ 9,730$ 8.48%
November 99,552 102,891 112,766 125,214 127,064 1,850$ 1.48%
December 134,682 143,774 148,200 160,542 162,940 2,398$ 1.49%
January 89,357 87,695 96,563 110,006 115,291 5,285$ 4.80%
February 86,901 89,107 108,117 105,556
March 114,355 123,951 133,492 137,301
April 106,002 102,671 108,977 117,261
May 112,572 95,699 120,418 125,188
June 123,306 130,589 142,767 151,484
July 102,435 108,994 119,534 154,889
August 98,015 102,888 132,582 122,847
September 119,473 125,201 135,378 143,897
Total 1,278,513$ 1,311,554$ 1,464,844$ 1,568,933$ 529,773$
YTD 415,454 432,454 463,579 510,510 529,773 19,263 3.77%[b]
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
[b]YTD compared through current month.
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
Re
v
e
n
u
e
s
Sales Tax 3 Year Trend
2015-16
2016-17
2017-18
Page 9 of 37
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
CHECKS WRITTEN REPORT
FOR THE MONTH OF MARCH 2018
• Economic Development Projects:
- Catalyst Commerical, Inc. $ 2,833.33
- Dispersol Technologies, LLC. $ 40,000.00
Page 10 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
April 16, 2018
SUBJECT:
Disc ussion and p o s s ib le ac tion regard ing the S taff Report —David Morgan, City Manager
-P erformance Agreement Report
-Activity Report
-Other Staff Items
ITEM SUMMARY:
The GEDCO Board has req uested that staff p ro vide a projec t p ro gress and s tatus report at eac h meeting
o n all of the ac tive p ro jects disc ussed b y the Bo ard .
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
David S. Morgan, C ity Manager
ATTACHMENTS:
Description Type
PA Cover Memo
activity Cover Memo
Page 11 of 37
Name Description
Start Date (Council
Approved)End Date $ Encumbered $ Expended
Citigroup
Grant for wastewater infrastructure for
construction of datacenter. 12/12/2006 12/31/2018 $ 1,300,000 $ 1,300,000
DisperSol
Grant for job creation related to expansion
of manufacturing facilities.10/16/2014 2/15/2019 250,000$ $ 80,000
Radiation Detection Corporation
Grant for Qualified Expenditures and job
creation related to the relocation of the
corporate offices to Georgetown. 7/23/2013 12/31/2021 320,000$ 320,000$
KJ Scientific (KJS)
Provide a grant of the equipment obtained
in the TLCC brand acquisition to KJ
Scientific (KJS) to retain the business in
Georgetown.The retention equipment grant
is for five years with KJS obligated to pay a
pro-rated amount of $10,000 per year
should they relocate outside of the City.2/27/2018 12/31/2022 50,000.00$ 50,000.00$
Holt Caterpillar
The City to provide up to $2M in sales tax
rebates and $7,285,000 total infrastructure
improvements in exchange for Holt Cat
construction of a 60K sq. ft building by
12/31/2018, minimum $20M investment in
infrastructure/real property/ & business
personal property by 12/31/2019, and
minimum $35M in taxable sales/year in
years two through six of operations.
Approved by Council on 12/12/17.CofO issue date
6 years from
CofO date
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
April 16, 2018
Page 12 of 37
Economic Development
Activity Report
April 2018
Page 13 of 37
Strategic Goal 1
Support existing businesses and
industries
Page 14 of 37
0
5
10
15
20
25
Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17 Sep 17 Oct 17 Nov 17 Dec 17 Jan 18 Feb 18 Mar 18
Business Retention Activity
Visits Assistance Requests Touches
Page 15 of 37
Additional BRE Activity
•Still seeing workforce and facilities as major
themes
•12 of the active projects are existing
businesses
•Planning next Manufacturer’s Alliance (June
14)
•Xycarb celebrated their 20th anniversary in
Georgetown
•Held Breakfast Bites (March 7)
Page 16 of 37
Strategic Goal 2
Enhance targeted recruitment of
identified industries
Page 17 of 37
0
2
4
6
8
10
12
14
16
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Leads
FY17 FY18 Linear (FY17)
Page 18 of 37
0
2
4
6
8
10
12
14
16
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Proposals Submitted
FY17 FY18
Page 19 of 37
0
1
2
3
4
5
6
7
8
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Site Visits
FY17 FY18
Page 20 of 37
Development, 13
Hot, 12
Warm, 6
Cold, 7
Active Projects
Page 21 of 37
Additional Recruitment Activity
•Working with consultant to research
companies and generate leads in targeted
industries
•Red Poppy VIP Event (April 28)
Page 22 of 37
Strategic Goal 3
Diversify workforce development
and recruitment initiatives
Page 23 of 37
Workforce Development Activity
•Toured Texas State Technical College
•GISD Job Fair
•Sun City Town Hall meeting
•Planning Veterans Job Fair for November
Page 24 of 37
Strategic Goal 4
Encourage speculative
development
Page 25 of 37
Speculative Development Activity
•Six of the active projects are speculative
development
•Also focusing on “shovel-ready” sites
Page 26 of 37
Overall Objective
Tell our story to a broader local
audience
Page 27 of 37
Other Activity
•Held the residential developers
Twelve@12 meeting
•Opportunity Austin Southern California
Trip (April 8-11)
•WilCo EDP BIOMEDevice Show
(April 17-20)
Page 28 of 37
Economic Indicators
Page 29 of 37
-
200
400
600
800
1,000
1,200
$-
$500.0
$1,000.0
$1,500.0
$2,000.0
$2,500.0
$3,000.0
Ma
r
1
7
Ap
r
1
7
Ma
y
1
7
Ju
n
1
7
Ju
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1
7
Au
g
1
7
Se
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1
7
Oc
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1
7
No
v
1
7
De
c
1
7
Ja
n
1
8
Fe
b
1
8
Ma
r
1
8
Construction Permit Applications
Valuation
(in millions)
# of Permits
Page 30 of 37
0
2
4
6
8
10
12
14
16
18
Ap
r
1
7
Ma
y
1
7
Ju
n
1
7
Ju
l
1
7
Au
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1
7
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7
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1
7
De
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1
7
Ja
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1
8
Fe
b
1
8
Ma
r
1
8
Certificates of Occupancy Applications
Page 31 of 37
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
Fe
b
1
7
Ma
r
1
7
Ap
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1
7
Ma
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1
7
Ju
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1
7
Ju
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1
7
Au
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1
7
Se
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1
7
Oc
t
1
7
No
v
1
7
De
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1
7
Ja
n
1
8
Fe
b
1
8
Sales Tax Collections
Page 32 of 37
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
Ma
r
1
7
Ap
r
1
7
Ma
y
1
7
Ju
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1
7
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1
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1
7
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1
7
Ja
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1
8
Fe
b
1
8
Unemployment Rate
Page 33 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
April 16, 2018
SUBJECT:
Ac tion out of Exec utive S es s io n.
ITEM SUMMARY:
FINANCIAL IMPACT:
TBD
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 34 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
April 16, 2018
SUBJECT:
Sec. 551.071: CONSULTATION WITH ATTORNEY
Cons ultation with atto rney regard ing legal iss ues related to agend a items and o ther matters in which (1)
when the go vernmental b o d y s eeks the advic e of its atto rney about: (A) p end ing or contemplated litigation;
o r (B) a settlement offer; or (2) o n a matter in whic h the duty of the attorney to the governmental b o d y
und er the Texas Dis c ip linary Rules o f Pro fes s ional C o nduct of the State Bar of Texas c learly conflicts with
this c hapter - C harlie McNab b , City Atto rney
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 35 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
April 16, 2018
SUBJECT:
Section 551.072. DELIBERATIONREGARDING REAL PROPERTY
Disc ussion and p o s s ib le ac tion to deliberate the purchas e,exchange, leas e o r value o f real p ro p erty for
p urposes autho rized by the Develo p ment Corporatio n Act whic h d is cus s ion in open session wo uld have a
d etrimental effec t o n nego tiatio ns with third p ers o ns .
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 36 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
April 16, 2018
SUBJECT:
Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Deliberatio n regard ing c o mmercial o r financ ial informatio n that the c o rp o ratio n has received from a
b usines s pros p ec t that the Geo rgeto wn Economic Development Corporation s eeks to have lo cate, s tay, o r
expand in or near the territo ry o f the City o f Geo rgeto wn and with whic h the Corporatio n is c o nducting
econo mic d evelo p ment negotiations ; and/o r d elib eration regard ing the o ffer o f a financial o r other inc entive
to a bus iness pros pec t that the Co rp o ration s eeks to have loc ate, stay, o r expand in or near the territory of
the City of Georgetown.
- P ro ject Badge
- P ro ject Deliver
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 37 of 37
